Sorry, everyone: Amazon is making its annual Prime benefits more expensive

It's sad, but it's true: While there is no official press release as of yet, Amazon announced today in a shareholder meeting that it will raise the price of Amazon Prime by $20 per year. You'll now need to pay $119 annually to enjoy benefits like free 2-day shipping, Prime Music, and Prime Day access. This comes after Amazon raised the cost of monthly Prime memberships in January of this year. It also follows an announcement about Amazon Prime surpassing 100 million members.

The new cost changes will go into effect on May 11th, and it'll apply to Prime membership renewals starting on June 16th. Between changes to Amazon Key, the new Amazon Kids devices, Twitch Prime becoming a thing, and Prime Day coming up just around the corner, clearly the retailer has had a lot going on over the past few months. Usually when Amazon makes moves like this, other stores try to compete, so maybe we'll see Walmart try to capitalize on what will surely be a few angry Amazon customers.

Louryn Strampe

Louryn was 3 when her shopping obsession began. It started with eBay and quickly escalated to Black Friday. Now she's a shopaholic -- no day is complete without a pile of packages on her front porch. She justifies it by refusing to pay full price. She also loves video games, makeup, and beer. Find her on Twitter @lourynstrampe

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